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OMV Confident it will Hit 350,000 bopd

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LONDON – Austrian oil and gas company OMV AG's Libyan crude oil output has returned to pre-crisis levels, while Yemen oil production is currently offline, the company's board member responsible for exploration and production said Wednesday.

Production at the Austrian company's core projects in Romania and Austria is steady above 200,000 barrels of oil equivalent a day while projects in development increased by 60 percent to 450 million barrels of oil equivalent, said OMV's Jaap Huijskes, at a company presentation in London.

He added that he was confident that OMV would meet its 2016 targets to grow production to 350,000 boe day.


Copyright (c) 2012 Dow Jones & Company, Inc.


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